A profitmaximizing firm in a perfectly competitive market is currently producing 500 units of output, at a price of $40 and total cost of $1000.
A profitmaximizing firm in a perfectly competitive market is currently producing 500 units of output, at a price of $40 and total cost of $1000. At this current level of output, marginal cost is , and average total cost is Select one: Q a. $8, $6 0 b. $2, $2 O c. $20, $2 0 d. $40, $2
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